NASDAQ$RXST
Rxsight Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported revenue growth driven by increased adoption and utilization of the Light Adjustable Lens system.
RxSight, Inc. reported a strong first quarter in 2023, marked by a 96% increase in revenue compared to the same period last year. The company saw growth in both LDD and LAL sales, increased its gross margin, and reiterated its operating expense guidance for the year.
- Reported first quarter revenue of $17.5 million, a 96% increase compared to Q1 2022.
- Sold 56 Light Delivery Devices (LDDs), a 40% increase in unit sales compared to Q1 2022, expanding the installed base to 456 LDDs, an 85% increase year-over-year.
- Sold 10,523 Light Adjustable Lenses (LALs), a 153% increase in procedure volumes compared to Q1 2022.
- Increased 2023 full-year revenue guidance and gross margin, while reiterating operating expense guidance.
Headline financials
Revenue & EPS history
Rxsight · Revenue · Quarterly
$17.5M
Revenue by segment
Rxsight · $11.4M total across 2 segments · Q2 2022
- LAL Revenue$5.8M—50.9%
- LDD Revenue$5.6M—49.1%
Forward guidance
The company increased its 2023 full-year revenue, increased its gross margin and reiterated operating expense guidance.
Tailwinds
- Revenue of $79.0 million to $84.0 million, representing implied growth of 61% to 71% compared to 2022, up from prior guidance of $78.0 million to $83.0 million
- Gross margin in range of 56% to 58%, representing an implied increase of 27% to 32% compared to 2022, up from prior guidance of 52% to 54%
- Operating expenses in the range of $105 million to $108 million, representing an implied increase of 24% to 28% compared to 2022.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q1 2023
-1.1%
Avg return
Earnings day
-2.6%
Avg return
5 days after
+2.8%
Avg return
30 days after
45%
9 / 20 earnings
Positive
+15.1%
Q3 2022
Best reaction
-16.1%
Q2 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -6.6% | -21.6% | -31.1% | |
| Q4 2025 | -10.1% | -13.5% | -28.9% | |
| Q3 2025 | +8.7% | +16.3% | +46.7% | |
| Q1 2025 | -11.2% | -11.4% | +0.9% | |
| Q4 2024 | -0.8% | -7.8% | -9.1% | |
| Q3 2024 | -12.3% | -16.9% | -21.2% | |
| Q2 2024 | +14.6% | +21.5% | +29.0% | |
| Q1 2024 | +0.8% | -3.8% | -5.0% | |
| Q4 2023 | -5.8% | -3.2% | -10.9% | |
| Q3 2023 | +1.8% | +9.5% | +40.8% | |
| Q2 2023 | -1.5% | -6.3% | -1.8% | |
| Q1 2023 | +9.0% | +18.3% | +34.0% | |
| Q4 2022 | +9.7% | +4.5% | +17.9% | |
| Q3 2022 | +15.1% | +14.6% | +18.1% | |
| Q2 2022 | -2.9% | -8.3% | -13.3% | |
| Q1 2022 | -4.3% | -3.0% | +34.9% | |
| Q4 2021 | +1.4% | -3.2% | +1.8% | |
| Q3 2021 | +3.7% | -0.8% | -4.0% | |
| Q4 2020 | -16.1% | -18.4% | -21.1% | |
| Q2 2021 | -16.1% | -18.4% | -21.1% | |
| Q1 2021 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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